“Achieving the best through partnership”

 

BEST aims to enable not-for-profit organisations to achieve their full

 

potential by providing outstanding training and consultancy services.

Financial Management

 

The courses under this heading are:

 

Accounting and Reporting by Charities (SORP)

Basic Manual Bookkeeping for Voluntary Organisations

Finance & Risk Management

Charity Financial Management Certificate

Policy Writing

Basic Finance

Money Management in a Community Group or Voluntary Organisation

 

 

ACCOUNTING AND REPORTING BY CHARITIES (SORP) RECEIPTS AND PAYMENTS or ACCOUNTING AND REPORTING BY CHARITIES (SORP) ACCRUALS ACCOUNTS

 

AIM

To enable managers and treasurers to understanding the requirements of SORP and to consider the implications for day to day financial management

 

 OBJECTIVES

 By the end of the course participants will understand :

 

• The reason for SORP and its implications for marketing and grants applications

• The key terminology used within charity accounts

• The responsibility of trustees with respect to accounts

• The requirements of SORP 2005 for the structure of the accounts

• The implications for book-keeping and policy making

 

BASIC MANUAL BOOKKEEPING FOR VOLUNTARY ORGANISATIONS

 

AIM

To introduce participants to basic bookkeeping skills through practical exercises.

 

OBJECTIVES

By the end of the workshop participants will have :

 

· Set out the expenditure headings for their organisation in book-keeping format with regard to fund provider and legal requirements

· Set out the income headings for their organisation in book-keeping format with regard to fund provider and legal requirements

· Make entries for both income and expenditure taking into account any issues with regard to fund providers requirements

· Set up a petty cash system

· Made entries into the petty cash re expenditure and income

 

FINANCE AND RISK MANAGEMENT

 

AIM

To provide trustees, managers with a financial remit and finance workers with an overview of  risk management in relation to finance.

 

OBJECTIVES

 By the end of the day participants will :

 

•  Understand the relevance of effect and probability factors in risk assessment

•  Have considered the options to take once a risk has been identified

•  Understood the principles of recording risk assessment and used an example format

•  Considered appropriate policies to reduce risk

•  Have considered the importance of reserves and how  to determine a justifiable and effective policy

 

CHARITY FINANCIAL MANAGEMENT CERTIFICATE (2 DAYS)

 

AIMS

To provide an overview of the responsibilities held by managers or trustees with specific involvement in charity financial administration.

To enable participants to cost the services provided by their organisation, and to produce and monitor budgets and cash flows.

 

OBJECTIVES

 

By the end of the programme participants will be able to :

 

• Provide examples of good practice in relation to financial controls.

• Define the term “reserves” as applicable to Charities.

• State the policies that should be in place for effective financial management of a charity.

• Explain the significance of the Statement of Recommended Practice Accounting by Charities for account preparation and fundraising applications.

• Define the term “cost”

• Classify costs into fixed or variable costs and direct or indirect costs

• Describe absorption based costing, activity based costing and marginal costing methods for dealing with overheads

• Understand the principles of budget preparation

• Construct a simple cash flow forecast.

 

POLICY WRITING

 

AIM

To enable participants to develop a framework from which to produce finance policy documentation

 

OBJECTIVES

 

By the end of the day participants will be able to :

 

• Give a definition of policy

• Understand the importance of policy

• Construct clear policy statements for their organisation

• Identify key policies that they should have in place

 

BASIC FINANCE

 

AIM

 

To provide a very simple introduction to basic finance management

OBJECTIVES

 

By the end of the training session participants will

 Understand the need for dual control and segregation of duties

 Understand the things to consider when taking out insurance

 Considered how and where to keep funds secure

 Understand and have practiced how to undertake an end of month reconciliation

 Understand and have practiced how to use the HMRC PAYE disc

 Understand the requirements for collecting funds through collection tins

 

 

MONEY MANAGEMENT IN A COMMUNITY GROUP OR VOLUNTARY ORGANISATION

 

AIM

 

To enable participants to effectively manage the finances of a community group or voluntary organisation

 

Day 1

OBJECTIVES

 

By the end of the training participants will be able to:

 

 Understand the importance of accurate financial reporting

 Understand who needs financial information and why

 Understand key financial terms and legislation governing community groups or voluntary organisations

 Record financial transactions in a petty cash book

 Identify appropriate banking arrangements for a community group or voluntary group

 Identify purchases that may require insurance and recording on an inventory

 

Day 2

OBJECTIVES

 

By the end of the training participants will be able to:

 

 Understand the importance of accurate financial reporting

 Record financial transactions in a cash analysis book or spreadsheet

 Understand the practice of setting a budget and control